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minister mario monti, yes, the same one that is famous from all the anti-trust things back in the -- was that the '90s? >> the '90s, yeah. >> monti announcing he'll step down before his term ends. the decision comes after the party of sylvia berlusconi withdrew support for monti's government last week. berlusconi has indicated he will run for leadership again. cnbc's carolin roth will join us from italy with the latest in a few minutes. when i was over there, i had to have the -- all the political signs translated because there's a picture of monti sitting under a beach chair drinking a drink and all the text was send monti to the beach. they already didn't like him. >> he had very high disapproval ratings. i remember last summer i had seen that somewhere. >> they want to send him to the beach. the major european averages at this hour, there they, they're all down. not great in france, but germany down about .7% and the ftse down fractionally. other news out of europe, debt tieback for from an day to receive additional buyback offers. those would be at deeply discounted pri
of the other news we're getting out of that meeting, mario monti made a surprise appearance that we'll talk about as soon as silvia comes back. in particular, let's shift to asia and head to key elections. think in the most recent manufa worsening, meanwhile, opinion polls have been very consistent about which party is likely to become japan's next ruling party. kaori enjoji has more for this. >> japanese prime minister yoshi hikonoda is trying to keep his party in power just days before the election. it could pave the way for the return of the liberal democratic party of japan. >> japan is going to have another election due next year. and what abbe is perhaps going to do is to use the government machine as much as possible in order for the budget to be increased to sustain some of the public works because there is another critical juncture coming up because the japanese government is going to have to raise the tax rate for consumption tax. >> japanese economy is now in recession. and this is the third time sips the leaning crisis. the budget deficit is now five times larger than it was in
run by monti. berlusconi hinted he may return to politics after stepping down last year. claudia joins us in milan. a number of reports suggested this may not upset investors too much just because we were going to have elections anyway, it doesn't bring it forward a lot earlier. is that the sense that you're getting? >> yes, it doesn't really change in terms of the timing. it just gives you an idea, though, of where berlusconi stands and what the situation is like within that central right next. the pdl has made it clear that there is a serious disagreement within the party. they were set to go forward with some primaries which is what the center left did to elect their candidate. and now that berlusconi has abruptly announced that he's going back, that tells you there is a lot of tension. he's trying to define the support, enough support in order to have some say in parliament even after the elections. an apparently he probably was not able to get that within his own party. as far as the situation overall is concerned, we did see the spread go higher and there are concerns. the minute
might hear from aaron monti as to whether he intends to run as a candidate, although he's going to step aside as sort of the incumbent prime minister. ten-year spanish yields, slightly allow at 1.372%. we go to 84.48, the lowest against the dollar since april 20111. euro/dollar, 1.3159. kind of where we were at new york levels. that's where we stand right now in this european session. let's recap the trading week so far in asia. deidre has more for us in singapore. dei. >> ross, you were just talking about the yen. let me start there. it did hit a 20-month low against the u.s. dollar. that helped out u.s. equities. they hit an 8 1/2 month high after shinzo abe won the election. japanese equities, they moved inversely. the korean won is strengthening against the yen and this is putting it head to head with some of the japanese carmakers. it's causing concern about the korean carmakers because their vehicle res now becoming more expensive. so we did see some weakness there. moving on the tote greater chinese markets, the shanghai comp continued to gain. it has been on quite the rally thro
for him to stay on, prime minister mario monti has said once the budget is passed, he will resign. 61% of italians are against him running for a second turn. meanwhile, sylvia berlusconi promised yesterday if he's voted back in, he'll reverse some of monti's policies. >>> in tokyo, the newly elected prime minister is meeting with the head of the central bank. also, we'll head out to frankfurt where do you have ya mark may have dodged another bullet. >>> then it's over to hong kong. aig sells its remaining stake in aia and formally ends a partnership dating back 100 years. all of that straight ahead. i always wait until the last minute. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express ecember 22nd for christmas delivery. >>> the latest numbers out of china, in the first 11 months, foreign investments led. investment from the u.s. did pick up. . on the equity front, the shanghai composite has been powering ahead up over 9% just this month. with external factors im
. the italian elections, that is. today something indications. italy's prime minister, mario monti, has postponed his end of the year press conference. dow jones reporting that delay may signal a possible delay in the budget vote. now this budget vote, of course, being the key hurdle he wanted to get through before resigning. he announced his intention to resign in the last couple of days. that clearing the way for a potential return to politics of silvio berlusconi. again, not clear exactly why the post there has -- there's been a postponement of the end of the year press conference. that is the case as we are learning this morning. >>> moving on to shares in ubs which are at the top of the smi in zurich after the bank announced a settlement with u.s., u.k., and swiss regulators over its role in the libor fixing scandal. ubs will pay a total fine of $1.5 billion after admitting to manipulating the rate. as well as pleading guilty to charges of fraud and bribing brokers. the swiss bank says the fine will lead to a greater than expected fourth quarter loss. but that it will not need to r
Search Results 0 to 5 of about 6